Greenspan and His Inner Circle Guide Destiny of Millions Behind Ornate

[Tsiyu]

Greenspan and His Inner Circle Guide Economic Destiny of Millions Behind Ornate Closed Doors

By Jeannine Aversa The Associated Press
Published: Jan 30, 2005



WASHINGTON (AP) - First comes the small talk about vacations or family - usually anything but interest rates or the economy. But when Federal Reserve Chairman Alan Greenspan enters the room, it's time to get to work.
The decisions made by Greenspan and two dozen colleagues gathered around a 27-foot-long mahogany table can touch millions of consumers, businesses and investors.

But their discussions aren't broadcast on C-SPAN or other TV channels. They are conducted behind closed doors - ornate wooden doors. (Transcripts are released after five years.)

The massive table with its black granite inlaid top sits beneath a 1,000-pound, brass-and-glass chandelier festooned with dignified eagles and hung from the 23-foot-high ceiling.

At one end of the room is a marble fireplace with a bronze relief of Demeter, Greek goddess of agriculture and a symbol to the Fed of stability and productivity. At the other is a U.S. map, painted in 1937, depicting the Federal Reserve System.

more:

http://ap.tbo.com/ap/breaking/MGB5T5NKL4E.html

[mhr]

1. This Is A Background Article Not Latest Breaking News

It belongs in the editorial section.